Legal Question in Banking Law in India

Sir, I have opened a new account at SBI on 21 April 2014. They have given me a new cheque book at that instant and told me I can use it. I submitted the cheque of Rs.12500 for an IPO. But the cheque was dishonoured on 26 April 2014 after debiting the amount. The amount was credited after 5 minutes. When I contacted the Branch manager , he said that the signature was not uploaded, they will do it now and told me I have to present the cheque once again, they can't do anything. So ,Since It was for an IPO , It is submitted to lead bank and went for bulk clearance I can't represent the cheque. So the signature was not uploaded even after 5 days. And Bank staff told me that I can use the cheque on the same day itself. How can we proceed with this problem? I haven't got that IPO and due to this I didnt get the profit that might get and wastage of time. pls help me


Asked on 6/09/14, 3:21 am

1 Answer from Attorneys
J. Radhakrishnan independent Practice

This is deficiency of service on the part of the bank. You have no option but to file a complaint before the Banking ombudsman of your area, claiming compensation from the bank. You can get the format and other details for making complaint from the RBI website.

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Answered on 6/09/14, 4:49 am


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